The integrated project envisages development of an oil field and construction of an oil refinery.
The next round of talks on the project with the Iraqi government is expected this summer, LUKOIL CEO Vagit Alekperov stated earlier.
In March 2013, LUKOIL and Zarubezhneft have passed a qualification selection on Nasiria project. Seven companies were selected for the tender, including two Russian companies.
Meanwhile, LUKOIL and Zarubezhneft mull possible geological prospecting at Iraqi oil block Western Euphrates.
“A memorandum on mutual understanding with the Iraqi state-run oil exploration company over possible geological prospecting at oil block Western Euphrates on an area of 17 thousand square kilometers was signed in the Iraqi capital of Baghdad. The oil block is being surveyed now, after that a decision on drafting a contract will be taken. Zarubezhneft acts as LUKOIL’s partner from Russia,” LUKOIL stated.